# In the matter of AD Victoriam Ventures Private Limited IB-763-ND-2020

> NCLT judgment dated 2021-01-11. Citation: TCN-2021-NCLT-03328. The case involves GTM Industries Private Limited as the operational creditor and AD Victoriam…

- **Court:** NCLT
- **Order date:** 11 Jan 2021
- **Citation:** TCN-2021-NCLT-03328
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/ad-victoriam-ventures-private-limited-ib-763-nd-2020-2aa62452

## Summary

### Background

The case involves GTM Industries Private Limited as the operational creditor and AD Victoriam Ventures Private Limited as the corporate debtor. The operational creditor's counsel submitted that AD Victoriam Ventures Private Limited is already undergoing CIR process vide order dated 21st November 2020 in IB-2380 of 2019. The operational creditor has already filed the claim before the IRP.

## Facts

GTM Industries Private Limited is the operational creditor. AD Victoriam Ventures Private Limited is the corporate debtor. AD Victoriam Ventures Private Limited is undergoing CIR process vide order dated 21st November 2020 in IB-2380 of 2019. The operational creditor has already filed a claim before the IRP. The current application is IB-763/2020. Because the corporate debtor is already in CIRP, the court deemed IB-763/2020 infructuous.

## Issues and analysis

### Issue 1: Whether the application IB-763/2020 has become infructuous due to the ongoing CIR process of the …

**Ratio:** An application becomes infructuous when the relief sought is already addressed or

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**Reasoning:** The court reasoned that since AD Victoriam Ventures Private Limited is already undergoing

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**Interpretation:** The interpretation is that if a corporate debtor is already undergoing CIRP,

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**Application:** In this case, the court applied the principle by noting that the CIR process

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## Parties

- **Judges:** Ch. Mohd Sharief…; Narender Kumar…
- **Appellants:** GTM Industries…
- **Respondents:** AD Victoriam…

## Timeline

- **2020-11-21 — CIR Process…**: Order dated 21st November, 2020 in IB-2380 of 2019 initiating CIR process for AD…
- **2021-01-11 — Order Del…**: Order delivered on 11.01.2021…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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